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The Conservatives are studying plans to increase VAT to 20 per cent if they win power at the next election as part of an “emergency” package to pull Britain out of the red.
The proposal – likely to raise up to £10 billion a year – is being “very actively considered” at the highest level, according to senior shadow ministerial sources.
It could be introduced within weeks of a Tory victory at the next election, which must be held by June, in a package that is also likely to include severe cuts to public spending.
David Cameron, the Tory leader, and George Osborne, the shadow chancellor, are understood to have reluctantly concluded that the state of the public finances they are likely to inherit will mean that simply cutting spending by tens of billions of pounds will not be enough.
A shadow ministerial source said: “Tax rises will have to be part of the equation. It will be time for some strong medicine.”
By moving quickly to increase VAT after the election, senior Conservatives believe they will be able to pin the blame for the state of the public finances on Gordon Brown and his outgoing Labour government
I don't understand all this talk.
Like a different language to me seriously :lol:
It sounds like Labour is conservative and Conservatives are Labour. Does the UK have ANY party that proposes cutting spending? Even if it's say... some minor city beautification program?I don't understand all this talk.
Like a different language to me seriously :lol:
I'm going to pay high taxes whoever forms the next Govt.
I'm over it tbh
It sounds like Labour is conservative and Conservatives are Labour. Does the UK have ANY party that proposes cutting spending? Even if it's say... some minor city beautification program?
David Cameron, the Tory leader, and George Osborne, the shadow chancellor, are understood to have reluctantly concluded that the state of the public finances they are likely to inherit will mean that simply cutting spending by tens of billions of pounds will not be enough.
Wtf has happened to Wessexman? Any ideas?
Then they shouldn't have to need to raise taxes. For a conservative party, how can they even consider that? It reduces personal wealth at a time they can't afford to do that. While cutting spending may piss off the liberals, raising taxes is going to piss off everyone! I doubt Cameron will last one term if he does this.
Then they shouldn't have to need to raise taxes. For a conservative party, how can they even consider that? It reduces personal wealth at a time they can't afford to do that
While cutting spending may piss off the liberals, raising taxes is going to piss off everyone! I doubt Cameron will last one term if he does this.
Well, at least you got the lib-dems. Don't they have a chance at winning?Don't look at me like i am supposed to know lol
I have no idea what Conservatives think half the time.
They are not the same party Thatcher left behind.
Perhaps large cuts and high taxes will get UK out of the red faster?
A few years of high taxes i could maybe handle but it just shows me conservatives are just the same as labour who would have also raised my taxes
Well, at least you got the lib-dems. Don't they have a chance at winning?
The Lib Dems have outlined plans to spend billions more on childcare and schools by scrapping tax credits for families on above-average incomes.
The party will redirect £7bn from current government budgets to widening access to childcare and increasing school spending for the poorest.
This will be paid for by cutting some spending programmes and removing tax credits from about 2.5 million people.
Leader Nick Clegg said its focus on priorities required "tough choices".
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